Commercial Excess Liability

Commercial general liability (CGL) insurance could be the single most important piece of coverage for your business. Claims, lawsuits and litigation are everywhere, and many people are quick to hold businesses responsible for any accident or mishap which possibly could share a portion of the blame. CGL insurance protects you and your business if such a claim is filed against you. But, with very costly claims, what happens if the payout limits of your liability coverage are maxed out? The unfortunate reality is, once the limits of your general liability policy are met, you are responsible for any excess amounts.

To avoid paying out of pocket for medical bills, pain and suffering, and legal fees, consider commercial excess liability coverage. This type of coverage—also known as umbrella insurance—helps protect you from such financial responsibilities. Umbrella insurance picks up where your other liability policies leave off, helping to reduce possible crippling out-of-pocket payouts. Remember, that in liability lawsuits, it isn’t just what’s in your bank account that you could lose; other assets—including future income—are also at stake.

Excess Liability Insurance Expands Your Liability Coverage

Umbrella insurance doesn’t only work in tandem with your CGL policy, it can also extend your other liability coverages, including your commercial auto, employment practices liability and professional liability insurance. Additionally, umbrella insurance doesn’t just extend your liability coverage, it also expands it geographically. If an incident occurs off-site, you’ll be protected. Likewise, umbrella insurance covers claims of libel and slander—something your CGL policy does not.

Every business is different, and some face more risk than others. To learn more about the value of commercial excess liability insurance, contact the Insurance Center of Winchester at 540-667-0700, or fill out the form on this page.